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Tuesday, December 30, 2008
Thursday, December 18, 2008
Bad News For Seniors: No IRA Help For 2008
Bad News For Seniors: No IRA Help For 2008
Janet Novack 12.18.08, 5:30 PM ET
The Treasury has decided against granting any relief to retirees who were hoping to take smaller 2008 distributions from their depleted individual retirement accounts.
Janet Novack 12.18.08, 5:30 PM ET
The Treasury has decided against granting any relief to retirees who were hoping to take smaller 2008 distributions from their depleted individual retirement accounts.
Last week, Congress passed a bill suspending--for 2009--rules that force IRA owners over 70 and a half years old, as well as those who have inherited IRAs, to take "required minimum distributions" (RMDs) from these accounts annually. The Treasury Department, meanwhile, had been considering easing the pain for 2008 too.
Normally, the RMD is calculated based on an IRA owner's age (older folks must take out more) and his or her IRA balance on Dec. 31 of the previous year. Outside tax lawyers believed the Treasury had the authority to allow 2008 distributions to be based on some date in late 2008 after the market had tanked. That would have led to smaller required 2008 distributions.
Treasury and the Internal Revenue Service have decided, however, that since Congress has now acted, they will not allow this, according to a letter being sent to several senators and congressmen who had requested help from Treasury.
More..Forbes.com - Magazine Article
Monday, October 13, 2008
Mortgage Lending for Home Sellers who can not sell - WSJ.com
Mortgage Lending for Sellers
By AMY HOAK
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It's much harder to get a mortgage today than it was a couple of years ago. That's why some home sellers are stepping in and financing deals on their own.
The concept of owner financing isn't new, though it wasn't as popular when mortgage money was easier and cheaper to come by through traditional lenders. But in today's tough real-estate markets, being able to finance the sale of your home can give a seller an edge. "There are a lot of good buyers out there that can't get loans," says Dawn Rickabaugh, of Rickabaugh Realty, in Pasadena, Calif. "When you eliminate the hurdle of qualifying for a bank loan, you'll double the amount of buyers interested," she says. Ms. Rickabaugh also oversees the owner-financing Web site NoteQueen.com.
Mortgage Lending for Sellers - WSJ.com
Tuesday, September 23, 2008
Sunday, September 14, 2008
Friday, September 12, 2008
Thursday, September 11, 2008
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